Over the past few months bitcoin has repeatedly experienced falling prices, and Bloomberg analyst recently predicted that the most popular digital currency may fall to 4 000 US dollars.
“Bitcoin is in free-fall mode, following a potential U.S. ETF,” said Bloomberg Intelligence analyst Mike McGlone during a recent interview.
“The fall might not stop until you find good support in the area the prices are in 4000 dollars.”
According to some market analysts, this option could become real.
“Bitcoin traded in a very stable range for the last few months when the buyers came in a little above $ 5 000, we have 200-day moving average, acting as an ideal point of resistance,” said Mati Greenspan, senior market analyst platform eToro .
Below is a diagram illustrating the movement of the price of BTC last year and 200-day moving average of cryptocurrency.